In the face of rising fuel prices and tightening emissions regulations, understanding the real cost of ownership between electric and internal combustion engine (ICE) vehicles has become more than a theoretical exercise. With EVs becoming more accessible and incentives more common, consumers are digging into what they’ll pay month after month to simply keep their car moving.
GoBankingRates recently compared the monthly energy costs of several Tesla models against a range of popular gas-powered vehicles, from pickup trucks like the Chevy Silverado and Toyota Tacoma to SUVs like the Jeep Wrangler and sedans like the Hyundai Sonata. The numbers highlight some major cost gaps—and a few caveats.
Tesla Charging Costs Remain Relatively Stable Across Models
Across all comparisons, charging a Tesla at home remained significantly less expensive than fueling a gas car. The Tesla Model 3 Rear-Wheel Drive costs about $49 per month to charge, assuming average U.S. electricity rates and monthly mileage of roughly 1,123 miles. The Model Y Long Range All-Wheel Drive comes in at $54, while the more power-hungry Model X costs about $64 monthly.
Charging a Tesla Cybertruck—larger and heavier—costs roughly $74 a month for the same mileage, based on a $21.50 cost for a full charge and an estimated 325-mile range per fill. These figures assume that most charging is done at home, where the national average electricity cost is around 17.22 to 17.47 cents per kilowatt-hour, as reported by the U.S. Energy Information Administration and cited in all sources reviewed.
Energy loss during charging—estimated around 10%—has already been factored into these numbers. Yet, Tesla drivers who use public DC fast chargers could see that cost double, with public network rates ranging from 30 to 48 cents per kWh, according to J.D. Power.
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Fueling Gas Vehicles Still Costs Significantly More Each Month
The most efficient ICE version of the 2025 Chevrolet Silverado, getting 26 miles per gallon, consumes about 43 gallons of gas per month when driving the U.S. average of 1,123 miles. That translates to approximately $137 in fuel costs monthly, using the average national gas price of $3.192 per gallon. Less efficient versions of the Silverado push monthly fuel costs even higher.
The Jeep Wrangler costs between $175 and $375 per month to fuel, depending on driving habits and regional gas prices. Similarly, the Toyota Tacoma’s monthly fuel cost ranges from $137 (2WD model with 23 MPG) to $180 (4WD manual with 20 MPG), assuming 1,000 miles of driving and fuel at $3.60 per gallon.
Even smaller sedans aren’t spared. The Hyundai Sonata SE, with a combined fuel economy of 32 MPG, racks up around $99.78 per month in gas to cover the same 1,000 miles that cost a Model 3 owner just over $48.
Beyond Fuel: Other Costs Can Blur the Difference
Fuel is only one component of overall vehicle ownership, and both EVs and ICE vehicles come with additional long-term costs. According to the source comparing Tesla and Toyota Tacoma, a Tacoma may depreciate less over five years (28%) than a Tesla Model 3 (59%), based on CarEdge estimates.
Maintenance costs also vary. Over a decade, the Tacoma is expected to incur about $699 annually in repairs and upkeep. Tesla models range from $257 to $748, depending on the vehicle, as reported by Tesla. The installation of a home charger can add $1,000 to $2,000 to an EV buyer’s initial investment, though this may be offset by rebates or increased home value, according to the article on Tesla vs. Silverado.
Government incentives may play a role as well. While no gas-powered models qualify for federal tax credits, certain Tesla vehicles remain eligible for up to $7,500 in incentives, according to the IRS as cited in the Tacoma comparison.
